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Indebtedness
 6 Months Ended
Jun. 30, 2022
Debt Disclosure [Abstract]  
Indebtedness
9. Indebtedness

Advance and Warehouse Facilities
June 30, 2022December 31, 2021
Maturity DateCollateralCapacity AmountOutstandingCollateral PledgedOutstandingCollateral Pledged
Advance Facilities
$400 advance facility(1)
August 2023Servicing advance receivables$400 $173 $243 $234 $318 
$350 advance facilityOctober 2022Servicing advance receivables350 156 186 160 197 
$350 advance facilityJanuary 2023Servicing advance receivables350 145 172 162 190 
$75 advance facilityDecember 2022Servicing advance receivables75 49 70 58 89 
Advance facilities principal amount 523 671 614 794 
Warehouse Facilities
$4,000 warehouse facilityFebruary 2023Mortgage loans or MBS4,000 661 771 1,224 1,341 
$2,500 warehouse facilityOctober 2022Mortgage loans or MBS2,500 532 550 991 1,024 
$1,500 warehouse facilityJune 2023Mortgage loans or MBS1,500 180 180 356 345 
$750 warehouse facilityOctober 2022Mortgage loans or MBS750 241 253 256 270 
$600 warehouse facility(2)
September 2023Mortgage loans or MBS600 91 101 409 425 
$500 warehouse facilityJune 2023Mortgage loans or MBS500 9 10 188 194 
$500 warehouse facilitySeptember 2022Mortgage loans or MBS500 117 120 419 430 
$500 warehouse facilityJune 2023Mortgage loans or MBS500 57 68 39 39 
$500 warehouse facilityAugust 2023Mortgage loans or MBS500 31 32 38 39 
$450 warehouse facilityApril 2023Mortgage loans or MBS450 — — 87 89 
$325 warehouse facilityDecember 2022Mortgage loans or MBS325 1 1 67 67 
$250 warehouse facility(3)
April 2023Mortgage loans or MBS250 — — 5 6 
$200 warehouse facilityApril 2023Mortgage loans or MBS200 19 25 46 58 
$30 warehouse facility(4)
January 2022Mortgage loans or MBS— — — — — 
Warehouse facilities principal amount 1,939 2,111 4,125 4,327 
MSR Facilities
$800 warehouse facility(1)(5)
August 2023MSR800260 2,008 2601,107 
$600 warehouse facility(6)
April 2023MSR600400883 — 838 
$400 warehouse facility(2)
September 2023MSR400651,376—745
$400 warehouse facilityJune 2024MSR400200710——
$50 warehouse facilityNovember 2023MSR50257710124
MSR facilities principal amount 9505,0542702,814
Advance, warehouse and MSR facilities principal amount 3,412 $7,8365,009 $7,935 
Unamortized debt issuance costs(5)(12)
Advance and warehouse facilities, net$3,407$4,997

(1)Total capacity for this facility is $1,200, of which $400 is internally allocated for advance financing and $800 is internally allocated for MSR financing; capacity is fully fungible and is not restricted by these allocations, in comparison to $1,200, $940, and $260 respectively in 2021.
(2)The capacity amount for this facility is $1,000, of which $400 is a sublimit for MSR financing.
(3)The capacity amount for this warehouse facility decreased from $600 to $250 in 2022.
(4)This facility was terminated in January 2022.
(5)The capacity amount for this warehouse facility increased from $260 to $800 in 2022.
(6)The capacity amount for this warehouse facility increased from $400 to $600 in 2022.

The weighted average interest rate for advance facilities was 3.1% and 3.4% for the three months ended June 30, 2022 and 2021, respectively, and 2.8% and 3.2% for the six months ended June 30, 2022 and 2021, respectively. The weighted average interest rate for warehouse and MSR facilities was 3.1% and 2.1% for three months ended June 30, 2022 and 2021, respectively, and 2.6% and 2.2% for the six months ended June 30, 2022 and 2021, respectively.
Unsecured Senior Notes
Unsecured senior notes consist of the following:
Unsecured Senior NotesJune 30, 2022December 31, 2021
$850 face value, 5.500% interest rate payable semi-annually, due August 2028
$850 $850 
$650 face value, 5.125% interest rate payable semi-annually, due December 2030
650 650 
$600 face value, 6.000% interest rate payable semi-annually, due January 2027
600 600 
$600 face value, 5.750% interest rate payable semi-annually, due November 2031
600 600 
Unsecured senior notes principal amount2,700 2,700 
Unamortized debt issuance costs(28)(30)
Unsecured senior notes, net $2,672 $2,670 

The indentures provide that on or before certain fixed dates, the Company may redeem up to 40% of the aggregate principal amount of the unsecured senior notes with the net proceeds of certain equity offerings at fixed redemption prices, plus accrued and unpaid interest, to the redemption dates, subject to compliance with certain conditions. In addition, the Company may redeem all or a portion of the unsecured senior notes at any time on or after certain fixed dates at the applicable redemption prices set forth in the indentures plus accrued and unpaid interest, to the redemption dates. No notes were repurchased or redeemed during the six months ended June 30, 2022 and 2021.

As of June 30, 2022, the expected maturities of the Company’s unsecured senior notes based on contractual maturities are as follows:
Year Ending December 31,Amount
2022 through 2026$— 
Thereafter2,700 
Total unsecured senior notes principal amount$2,700 

Interest Expense
Interest expense primarily includes interest incurred on advance and warehouse facilities, unsecured senior notes, excess spread financing and compensating bank balances, as well as bank fees. The Company incurred interest expense related to advance and warehouse facilities, unsecured senior notes and excess spread financing of $90 and $176 for the three and six months ended June 30, 2022, respectively, and $90 and $183 for the three and six months ended June 30, 2021, respectively.

Financial Covenants
The Company’s credit facilities contain various financial covenants which primarily relate to required tangible net worth amounts, liquidity reserves, leverage requirements, and profitability requirements, which are measured at the Company’s operating subsidiary, Nationstar Mortgage LLC. The Company was in compliance with its required financial covenants as of June 30, 2022.